On my last chart I predicted a breakout, I was accurate, however my target didn't even come close, we pretty much blew up on the launch pad! In my defense, I have been updating them to show that it was a failed breakout, and did accurately predict the breakdown early on as it was becoming evident the rally wasn't going to sustain itself.
In today's chart I'm going to go old school and point to some charts I listed a very long time ago, and ironically, we still find ourselves in the midst of.
I've highlighted the channels and interesting patterns I see on this chart, as well as price action areas you need to observe. Breakdowns, or breakups of these levels, will be significant and could lead to the next price point listed out.
Key notes:
1) Last time our monthly RSI was @ 96, we retraced 76% and 86%, if we average that our we're looking at an 80% retracement. That's unlikely in my opinion. 2) The historical significance of the 200 daily EMA and 200 daily SMA can't be ignored, if you check the previous charts I've made I go into details exactly how many times they've been touched, pierced, and bounced off of. 3)I think a touch of the 200 daily SMA should satisfy the correction, as it would be roughly a 61% retrace from the top, not quite the 80% average of the two previous, but we have different market conditions now.
As always, if you find these idea's useful, please support me by hitting the like and follow button, it keeps me motivated to chart! Additionally, I've been streaming regularly @ 6pm EST on twitch.tv/cryptocrew discussing these analysis and more and answering your questions live.
Giao dịch đang hoạt động
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7893/8100 buys filled.
If 7750 (200 MA) fails, I'll bounce out for the 5k pickup. At this point, we're dealing with 2 supports that have lasted 3 years. As I mentioned, if these breakdown and we start trading below, myself, and I'm sure many others will be hesitant to re-buy as we may be looking at a total collapse.
Best of luck in these historic times!
Giao dịch được đóng thủ công
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I've exited with some profit and looking for a further breakdown
Giao dịch đang hoạt động
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in @ 8700, looking for test of 9300 zone, possibly up to 10ish if we can break the 50 EMA
Trade active btw if you haven't been following the stream
Giao dịch được đóng thủ công
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0.75% profit, looking for new buy
Bình luận
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In @ 8400, look closely at this 9300, we’re going back to the 10s if 50 ema holds on hourly
Bình luận
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Morning everyone, we were up late streaming last night!
I felt we had hit the bottom last night, and decided to go in. Props to divarific who felt the same :D
On this chart I've highlighted some zones of interest I'll be looking at which will determine my sell points. Please see the chart attached, additionally I'll be streaming live in a couple of hours @ twitch.tv/cryptocrew
Thanks Ant, good stuff. A lot of my favorites here on TV seem less certain than normal at this point. Looking like a good opportunity to learn more about this 'patience' thing everyone keeps talking about.
And thanks for all the updates on your previous BTC post. It's really nice/relieving to get your thoughts when things aren't going quite as expected.
makistar
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In the words of McDonald's, I'm Lovin' It! Thank you for the charts and updates!
makistar
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Ant, I hope you had a stop loss or managed to get out.
samsun
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@makistar, I kept stop loss last night at 8750. Hope he did too
BigD1702
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I cant thank you enough for the stream, way to stick with it. Learned a ton today, glued to the feed.
kitkat16
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Hi Ant, thanks for the great updates.
Can't view stream. Are you out and waiting for 7k range or are you in on the double bottom at low 8k?
If you are in, what is target?
Thanks Ant. Much appreciated.
ant187
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@kitkat16, I'm currently in and out all the time at the moment, I can't tell you the bottom, I just don't know yet, theres a very good chance we hit it already
ss44
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@ant187 hey sorry missed the stream, but you hoping for a cautious double bottom with finger on the trigger finger?
ant187
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@ss44, Still streaming, and yea, looking for a bottom, and hopefully we found one
streamDr
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Maybe 9.2 is do-able? I'm looking to jump back out just below that. Take what you can, and get out with everything intact...
And thanks for all the updates on your previous BTC post. It's really nice/relieving to get your thoughts when things aren't going quite as expected.